Indian wind group Suzlon has completed the purchase of the 240MW Big Sky wind farm in the US – a project it apparently plans to sell almost instantly in a bid to recover some value from the bankruptcy of the plant’s developer.
Suzlon told investors in India earlier today in a brief statement
that its US subsidiary SWECO had acquired the plant from Edison Mission Energy
The statement notes that Suzlon was “pleased to have worked
with our long-time customer Edison Mission on this transaction”.
Suzlon has spent more than
a year trying to recover over $200m it advanced to the now-bankrupt EME to buy
its turbines for Big Sky.
As Recharge reported in
February, the Indian wind group set out a plan to the US Federal Energy
Regulatory Commission (FERC) that
would see it swiftly sell the project onwards to developer EverPower.
Today a spokesman for Suzlon had no comment on its plans for
Big Sky, beyond saying that “we are confident can generate cash”.